Oxford Cancer Analytics (OXcan), a medtech company that focuses on creating blood tests for early cancer detection, has secured $11 million in Series A funding.
This latest funding round, led by We Venture Capital and Cross-Border Impact Ventures, brings OxCan’s funding total to $16.7 million.
“The power of the OXcan proteomics biomarker discovery platform and the data generated by Oxcan stand out against the backdrop of other liquid biopsy companies, indicating a truly superior performance in the identification of early stage lung cancer,” Louise Warme, MD, Head of WeVenture Capital said.
Why Oxcan?
Lung cancer is currently one of the biggest causes of cancer death in the UK, with 21% of deaths being caused by the disease. Most patients (over 75%) are diagnosed with the disease at an advanced stage, even though early diagnosis is important for fighting lung cancer.
Dr. Peter Jianrui Liu (CEO) and Dr. Andreas Halner (President & COO) experts in oncology innovation and machine learning, founded OXcan in 2020.
OXcan uses maching learning and a blood test known as liquid biopsy to detect lung cancer in patients at earlier stages.
How will OXcan detect lung cancer?
OXcan produced a protein-based blood test that will identify molecular signatures for high-risk lung cancer patients. It fills a gap in the liquid biopsy space as the protein-based blood test will detect cancers with the highest mortality rate. Also, the blood test will be affordable, nonintrusive, and have a high accuracy rate and capacity at a local level in large populations.
Dr. Daniel Szulc, Chief Product Officer at OXcan, says, “OXcan is working with leading lung cancer screening programs worldwide to develop products that will be fully integrated with existing clinical pathways to enhance lung cancer screening, accelerate adoption, improve patient outcomes, and reduce healthcare system burdens from lung cancer.”
Image credit: OXcan
